SB299 creates a subsidized low cost auto insurance program creating a new entitlement program for 50% of all Nevadans. The bill taxes each private passenger vehicle covered by a motor vehicle liability policy sold or renewed in this state. This money would then be used to create the Low-Cost Automobile Pilot program.

Eligibility for this program would be set at 250% of the federal poverty line. For a family of four, the eligibility of this program would be $55,875. In 2009, according to the U.S. Census Bureau, the median per-capita household income in Nevada was $53, 431. That means this program would make more than 50% of Nevadans eligible for this program.